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Shpock: The Evolution of Ownership and its Impact on the Online Marketplace

Shpock – A Revolutionary Online Marketplace

Are you looking for a unique and user-friendly online marketplace to buy or sell your new or gently used items? If so, Shpock is the perfect marketplace for you.

Founded in 2012, Shpock is an Austrian-based online marketplace available on mobile devices and browsers, used by millions of customers in countries across Europe. Shpock’s platform serves as the go-to destination for users seeking a simple, secure, and trustworthy e-commerce experience.

In this article, we’ll explore the features and accessibility of Shpock, its revenue streams, and its history as a startup. We’ll also cover how the site works, including how buyers and sellers can make transactions, the trust and buyer protection in place for users.

This information will help you to get a better understanding of Shpock and its potential for both buyers and sellers.

Overview of Shpock

Shpock is an online marketplace that allows users to buy and sell a wide range of products. Unlike other online marketplaces, Shpock is focused on items that are new or gently used.

You can easily find items that you’re looking for by browsing through categories such as fashion, technology, home, and garden, or by using the search bar. Shpock’s primary mission is to make the buying and selling experience as easy and user-friendly as possible.

Features and Accessibility of Shpock

Shpock’s user-friendly interface and accessibility make it a popular choice for both buyers and sellers. Its mobile app provides users with easy access to the platform, including the ability to buy and sell goods from the comfort of their mobile phones.

Shpock provides filters and a wish list which makes it easy for buyers to find the items they are looking for quickly. Sellers can easily list their items on Shpock by taking a photo, uploading it to the site, and providing a description.

They can also set their asking price, respond to messages, and even receive buy offers. Shpock’s interface makes it easy to track progress from listing to final sale.

Revenue Streams of Shpock

Shpock’s primary source of revenue is subscription fees charged to users who are using its verified sellers program. This program requires sellers to verify their information, which shows buyers that they are legitimate sellers.

Additionally, Shpock charges fees on advertisements displayed within its platform. This helps it to cover the costs of running its platform and providing sellers and buyers with a smooth experience.

Users can also earn money on Shpock through referral fees. If you refer a friend to Shpock and they sign up, you’ll earn a commission.

This incentive helps users to spread the word about Shpock and increase its user base.

History of Shpock

Shpock is a successful startup founded in 2012 by three young entrepreneurs – Armin Strbac, Katharina Klausberger, and Conor Gannon. The company has seen tremendous growth since its launch, particularly in Europe, and continues to expand into new markets.

How Shpock Works

Buying and Selling on Shpock

Shpock provides its users with a user-friendly platform to buy and sell items. The process of buying and selling on the platform is straightforward.

Buyers can browse through different categories, use the search feature, or create a wish list of items they’re looking for. When they find an item they’re interested in, they can click on it to learn more about it and contact the seller.

Sellers can create listings, provide detailed descriptions, and photos of the items they are selling. When a buyer is interested in an item, they’ll message the seller to discuss the details such as agreed on price and shipping preferences.

Once both parties agree and funds have been transferred, the purchase has been made.

Trust and Buyer Protection

Shpock provides its users with the trust and protection needed for a secure e-commerce experience. It verifies the details of sellers who choose to participate in this program.

Any buyer can leave a rating and review of the seller they have purchased from, which provides insight and helps buyers to make informed decisions. Additionally, Shpock facilitates secure payment and agreement messages, which help to prevent fraud and protect both buyers and sellers during a transaction.

Conclusion

In conclusion, Shpock is a reliable and straightforward online marketplace that is incredibly user-friendly. Its accessibility through mobile apps, subscription fees, advertising, and referral fees are revenue streams that make it a profitable business.

The startup history offers insight into its origins and growth has help gained success thorough Europe, with the company continually expanding into more markets. Shpock provides a hassle-free experience for both buyers and sellers, with trust and buyer protection systems in place to ensure smooth transactions.

It is an excellent online marketplace for anyone looking to purchase or sell new or gently used items.

Shpock Company History

Shpock was founded in Austria in 2012 by three entrepreneurs – Armin Strbac, Katharina Klausberger, and Conor Gannon. Before starting Shpock, the founders had a background in entrepreneurship and business.

Armin and Katharina met each other while studying business administration at Vienna University of Economics and Business. In their teenage years, they had already started different businesses, including a marketing agency, an e-commerce website, and a fashion label.

Conor had studied business and management at Trinity College in Dublin and had also launched a few small businesses in his teenage years.

Development and Launch of Shpock

Shpock was created by its parent company Finderly, which was co-founded by Armin and Katharina in 2009. They originally created the website as a digital marketplace that allowed users to buy and sell items on a local level.

They later decided to develop a mobile app as a natural extension of the website’s capabilities. The app was launched in 2012 and was initially available only in Austria and the United Kingdom.

Shpock faced stiff competition from other app-based platforms like eBay and Facebook Marketplace. However, it quickly distinguished itself by establishing a more user-centric model.

Shpock’s approach was to make the selling process as easy as possible. This approach, complemented with an aesthetically pleasing and user-friendly design, allowed Shpock to rapidly accumulate user downloads.

Shpock’s Growth and Acquisition

Shpocks success was almost instantaneous. In just two years after its launch, the app had already amassed over 10 million downloads, with most of its users originating from Austria and the UK.

Many praised the app’s focus on design and aesthetics, while others applauded its user-friendly approach, with the free and easy-to-use interface that allowed fast and relatively painless transactions. Shpock quickly attracted investors, and in 2014, the company concluded its first funding round with 6m in investment.

The app’s potential was also recognized by Schibsted Classifieds Media, who later acquired the app in 2015 for an undisclosed amount. Shpocks acquisition accelerated its rollout across Europe, and it quickly gained significant traction in France, Italy, Spain, and other countries.

Shpocks acquisition by Schibsted Classifieds Media led to further investment in app development and growth with the focus on improving user experience, acquiring new customers and expanding their international presence. By the end of 2018, Shpock had become one of Europe’s most popular online marketplaces, with over 40 million downloads.

How Shpock Makes Money

Shpock’s business model is streamlined, allowing it to generate revenue through multiple channels. It primarily makes money via advertising, subscriptions, and referral fees.

Advertising on Shpock

Shpock makes money through ad placements. Third-party advertising on the app is delivered by Google AdSense, which focuses on targeting the right audience.

Advertisers on Shpock can target specific audiences, locations, and devices to better reach their advertising objectives. Additionally, Shpock takes a percentage based on impressions generated by the ads.

Subscription Offering for Professional Sellers

Shpock+ Shops is a subscription-based service that provides professional sellers with additional benefits, such as national exposure for their shop and promoted listings. With this service, sellers can enjoy a more comprehensive experience and maximize their visibility on Shpock.

The pricing for this service varies depending on the subscription level, from a monthly rate of $4.99 to $19.99.

Referral Fees from Shipping Providers

Shpock also generates revenue from referral fees from shipping providers. The company provides an integrated shipping service for sellers to facilitate secure and affordable delivery, and Shpock earns a referral fee for every shipment order that is processed through its platform.

In conclusion, the history of Shpock is a story of entrepreneurship, business innovation, software development, and customer service. The app promotes easy and secure transactions between buyers and sellers, making it one of the most popular and widely used marketplaces across Europe.

Shpock’s growth has been phenomenal, bringing it global recognition as a powerful digital marketplace. By diversifying income channels through advertising, subscriptions, and referral fees, Shpock has created a financially stable basis for its continued growth.

Shpock Ownership

Shpock, the online marketplace, has gone through various changes in ownership since its establishment in 2012. These changes have affected not only the direction and growth of the company but also the stakeholder’s ownership.

In this article, we’ll explore Shpock’s previous ownerships, including its acquisition by Schibsted Classifieds Media in 2015 and its recent purchase by Russmedia Equity Partners in 2021.

Acquisition of Shpock by Schibsted Classifieds Media

In 2015, Schibsted Classifieds Media acquired Shpock for an undisclosed sum. Schibsted, a Norwegian media corporation, had a strong track record in the e-commerce industry and saw the potential of Shpock.

The acquisition enabled Shpock to expand to other countries across Europe and increase its user base. Shpock became part of Schibsted’s portfolio following the purchase, alongside other successful marketplaces such as Blocket, a leading Swedish online marketplace.

Shpock had continued to grow and soon reached over 42 million downloads, leading to Schibsted gaining a 91 percent ownership stake. Schibsted’s remaining 9 percent was acquired by Adevinta, another major online marketplace.

Previous Ownership Change and Schibsted’s Purchase of Shpock

Before Schibsted Classifieds Media purchased Shpock in 2015, Shpock had already undergone a major ownership change. This was when the app’s parent company Finderly gained funding and made several key changes to improve the user experience.

The changes were quickly implemented, and the app saw an increase in user engagement. After the successes, Shpock received interest from different financial investors, leading to the acquisition by Schibsted Classifieds Media in its efforts to expand to other countries beyond its core Scandinavian market.

Acquisition of Shpock by Russmedia Equity Partners

In January 2021, Russmedia Equity Partners acquired Shpock. Russmedia is an Austrian-based investment company with a long-standing history in the media and online marketplace sectors, including owning the Austrian classifieds platform, Willhaben.

The purchase is assumed to have cost around 35 million ($42 million). The acquisition has helped to feed Russmedia’s pursuit of developing its digital reach, specifically in the online marketplace sector.

Shpock’s vast database of users and its considerable and well-trusted brand name helps Russmedia expand further in the field of online classifieds. Since Shpock’s acquisition by Russmedia Equity Partners, the company has been working closely with Russmedia.

The deal included extensive market research, data analysis, and forecasting techniques to guide the next stages of growth for Shpock. The Future of Shpock’s Ownership

With the acquisition of Shpock by Russmedia Equity Partners, it is expected that Shpock will continue its expansion in the European market.

Coupled with the vast market knowledge that Russmedia brings to the table, it is expected that the company has a strong runway to increase profitability and grow while transforming the online marketplace space. In conclusion, Shpock’s ownership has gone through a remarkable transformation in its short history.

From its modest beginnings with its parent company, Finderly, to its acquisition by Schibsted Classifieds Media, and finally to its most recent purchase by Russmedia Equity Partners. These ownership switches represent different stages of growth for the online marketplace as it navigated through different challenges and opportunities.

While future ownership changes may arise, it can be expected that Shpock will continue to experience growth and expansion in the near future, thanks to its well-established name and the investments by Russmedia. In conclusion, Shpock’s ownership has experienced notable changes throughout its history, including acquisitions by Schibsted Classifieds Media and Russmedia Equity Partners.

These ownership shifts have provided opportunities for growth, expansion into new markets, and increased profitability for the online marketplace. The latest acquisition by Russmedia brings a wealth of industry expertise and sets the stage for Shpock’s continued success in the European market.

With a user-friendly platform and a strong brand, Shpock is poised to thrive under its new ownership, solidifying its position as a major player in the online marketplace industry. The story of Shpock’s ownership changes serves as a reminder of the dynamic nature of the business landscape and the importance of adaptability and strategic partnerships in achieving long-term success.

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